BRITISH PRICES

New Zealand Herald, Volume 82, Issue 25347, 31 October 1945, Page 4

BRITISH PRICES

THREAT OF INFLATION BUDGET WELL RECEIVED LONDON, Oct. 'AS Economic opinion does not fully share the apparent confidence of the Chancellor of the 'Exchequer, Dr Dalton, that stabilisation of the cost of living at the present level, at a possible cost of more than £300,000,000 in subsidies, will avert the threat of inflation inherent in the vast accumulation of the people's purchasing power. Doubt is expressed in face of Labour's growing restiveness about wage rates, now that overtime payments are (.easing, whether stabilised prices of the narrow range of elements in the official cost of living index will mi ft! co to hold the fort against, the threat of inflationary pressure on the price level of nnratioued goods. Nevertheless, not since the beginning of rearmament before .the war ushered in the periods of steadily mounting taxation has any Budget had a better all-round reception than that brought down by Dr Dalton. On tho Stock Exchange big dealings in shares in short supply sent up prices, with numerous gains of several shillings, especially where the companies are payers of heavy excess profits tax. Dr Dalton's insistence that tax relief In industry through the surprisingly large cut. in the excess profits tax and the reduction in the .standard rate of income lax should be utilised to re-equip and modernise plant is recognised as undoubtedly sound. The concessions will stimulate efforts to raise the efficiency of production and encourage the taking of greater risks in reestablishing and consolidating external trade contracts

LIVESTOCK MARKET BEEF FIRMER AT FRANKTON (O.C) ' HAMILTON, Tuesday A full yarding of fat sheep came forward at Frankton today. Heavy prime wethers were in short supply and prices were on a par with late rates, while the lighter sorts wero a shade easier. Fat ewes were yarded in average numbers and prices were easier than those rilling last week. The yarding of fat lambs was a large one and prices showed an easing tendency. A full yarding of store sheep, comprising mostly shorn hoggets, came forward. Competition was not as keen as of late, and prices were slightly easier. A good offering of ox beef met a stronger demand, and opening values were firmer and hardened us the sale progressed Cow and heifer beef was in very short supply, and here also values were firm. A medium offering of light-weight veal was freely competed for and sold to good values. A medium yarding of fat pigs and a light entry of store and weaner pigs came forward, Raconers and buttermilk pigs were in keen demand, prices remaining firm Store and weaner pigs also sold well. Sheep.—Prime heavy wethers. 38s to IOs; prime wethers, 30s to 37s lid; lighter prime wethers, Tils to 35s Gd; light and unfinished, '2os to 30s fid; prime heavy woolly hoggets, •13s to 445; prime, 38s to 4OS; lighter, 30s to 375; heavy fat ewes, IGs Gd to 20s; medium, 10s to ITS; lighter, 13s to 15s: heavy ivoollv ewes, 21s to 265; medium, 22s to 235; heavy fat lambs. 36s to 39s fid; medium, 32s to 34s Gd; light, 2Gs to 30s; good shorn wether hoggets. 25s to 20s 0d; medium, 2'2s (hi (o 21s: smaller, ISs to '2ts; owes and lambs, all counted. 17s to 18s. Cattle: Heavy prime bullocks, ClO 10s to £2l IOs; medium. £lB to £10: light. £lO lOs to ,117 15s; heavy fat cows, £ll to CIO Hk>; medium fat eows and heifers, £l2 to £l3; light, £0 lOs to I'll 10s; medium vealers. CI 15s to £5 10s; light. £3 to £1; calves. 15s to C"2 sd. Pigs: Heavy choppers, £1 lOs to CO 12s: other. C2 lOs to £ I ss; heavy baconers. £5 to £5 i)s: medium. £4 lOs to CI 1 Gs; light. CI to CI 8s; buttermilk pigs and large stores. £3 to £1 lis; smaller stores. £2 lOs to C2 ISs; slips 32s Gd to C2 2s; weaner.*. ISs to 30s Gd